‹›×

Wildfires and melting glaciers

Article available at: https://www.ludovika.hu/en/blogs/ludovika-green-blog/2024/03/08/wildfires-and-melting-glaciers/

The Impact of Climate Change on Economy, Fisheries, Agriculture, and Global Inequality

The profound implications of anthropogenic climate change on the economy, fisheries, agriculture, and global inequality are massive, it exacerbates economic disparities, jeopardizes coastal livelihoods reliant on fisheries, and threatens food security through its adverse effects on agriculture. Urgent global action is imperative to mitigate these challenges and foster resilience, equitable adaptation, and sustainable development.

The biggest and most severe threat to the environment and human rights in our era is anthropogenic climate change. The greenhouse gases that cause the Earth’s atmosphere to retain heat are at the root of climate change. A significant factor is carbon dioxide, which is mostly produced when fossil fuels like coal, oil, and natural gas are used. The effects of climate change extend beyond the natural world and have a significant impact on human civilizations and the economy. Temperatures are rising, droughts and wildfires are becoming more frequent, rainfall patterns are changing, glaciers and snow are melting, and the average global sea level is rising. Climate change is merging with demographic trends, migration, and increased urbanization, putting those who are most vulnerable at an increased risk. Some consequences happen unexpectedly, such as when an unprecedentedly powerful typhoon wipes out an entire village, while others develop gradually. It has been happening for a while now, but it is only now that us humans are starting to open our eyes up. Now, we have realized that climate change is one of, if not the biggest challenges we have ever had to face. Who suffers the most due to this? Who really faces the consequences of our actions? As J. Cole’s famous quote says, “It always rains hardest on those who deserve the sun.”, this exactly captures the idea of what really happens. Unjustly and unfairly, those who have made the smallest contributions to climate change experience its negative effects. 

In the following paragraphs, the effect of climate change on the economy will be elaborated on, including the widening of the gap between the rich and the poor, the effects on agriculture as well as on fisheries. 

What effect does climate change have on fisheries? 

Fish and their habitats will be highly affected by climate change. Warmer temperatures will affect which species may be farmed in specific places as well as the abundance, migration patterns, and mortality rates of wild fish stocks. People who depend on fisheries and aquaculture, including employees and coastal communities, will experience social and economic implications as a result of these climate effects on fish.[1] Since the late 1960s, a number of economically significant species have moved northward in the waters off the northeastern United States. Many aquatic species have started to migrate northward along the coast or in the ocean, or they can find cooler areas like streams and lakes. However, expanding into new areas may put these species in conflict with other species for food and other resources. A few outbreaks of marine diseases have also been connected to climatic change. An oyster parasite has been able to spread farther north along the Atlantic coast due to warmer ocean temperatures and greater estuarine salinities. Salmon infections in the Bering Sea are being exacerbated by Arctic winter warming, which is causing a decline in Yukon Chinook salmon. Finally, disease outbreaks in coral, eelgrass, and abalone have all been linked to rising temperatures.[2] Additionally, the architecture of delicate ecosystems, which some fish and shellfish rely on, are at danger due to acidification.

What effect does climate change have on agriculture?

Undoubtedly, the sector most vulnerable to climate risk is agriculture. The effects of climate change on agriculture are profound and affect many facets of the sector. Depending on the region, crop, and particular consequences of climate change, these effects can differ. The following are some significant ways that climate change affects agriculture: changed growing seasons, droughts and water scarcity, changes in crop suitability, soil erosion, rising temperatures. When looking at the economic effects of all of these, inflation is crucial to be mentioned. Agricultural harvests are highly dependent on weather, and as our climate gets more extreme, more frequent droughts may result in lower crop yields in regions where it is crucial to provide food. Thus, rising food prices globally are anticipated to reduce consumer income. Overall, especially if global warming intensifies further, food price inflation will also increase. Reduced land availability may also be a sign of rising inflation. Mass migration will likely follow if some regions of the world become uninhabitable as a result of the rise in global temperatures. The political and socioeconomic repercussions of these decisions will be accompanied by increased demand for a limited amount of land. In essence, the world’s population will be compelled to occupy a smaller and smaller area.[3]

How does climate change widen the gap between the rich and the poor?

Climate change poses a severe risk to attempts to reduce poverty and might destroy years of development work. As stated in the Johannesburg Declaration on Sustainable Development, “the adverse effects of climate change are already evident, natural disasters are more frequent and more devastating, and developing countries are more vulnerable.” Although climate change is a worldwide phenomenon, poor people and poor countries are more severely affected by its negative effects. They are particularly at risk due to their heavy reliance on natural resources and their poor ability to adapt to climatic extremes. These countries frequently lack the tools, capacities, and infrastructure needed to effectively adapt to or mitigate the effects of climate change. Richer nations, who are the biggest contributors to carbon emissions but also the least affected by climate change, continue to reject requests for them to commit to climate funding.[4]

In conclusion, climate change and the economy are interconnected in several ways, and the relationship between them is a topic of significant global concern. Extreme weather events, higher healthcare expenditures, and decreased agricultural output are just a few of the negative economic effects of climate change. The implications of climate change are particularly dangerous for some industries. For instance, shifting weather patterns and rising sea levels can have a direct influence on agriculture and fisheries, which could result in food shortages and higher costs. Additionally, economic inequality will be further exacerbated by climate change. Since they do not have the resources to adjust to changing conditions or recover from climate-related disasters, vulnerable and disadvantaged nations will suffer disproportionately from the effects of climate change. Overall, the phenomenon of climate change offers both difficulties and opportunity for economies around the world. The end result will be greatly influenced by how governments, corporations, and people react to climate change. It is a challenging global issue, but balancing climate action with economic growth and sustainability is essential.

Notes

[1] OECD – Climate change and fisheries

[2] United States Environmental protection Agency – Climate Impacts on Agriculture and Food Supply

[3] City of Chicago – Climate Impacts on Agriculture and Food Supply

[4] OECD – Poverty and Climate Change